Stifel analyst Cole Pereira initiated coverage of TC Energy with a Buy rating and C$61 price target. The firm cites TC’s attractive earnings quality, meaningful exposure to natural gas and potential to create value from its Liquids Pipelines spin-out. The firm also sees its outlook as “considerably de-risked going forward” and sees a line of sight for continued dividend growth, “albeit at a slower rate than prior years and below its smaller peers,” the analyst tells investors.
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